ZOM Living Bids 2 South Florida Apartment Developments And Expecting $460 Million In Trade

ZOM Living is asking bids for the 438-unit, 50-story Solitair in Miami’s Brickell Financial District and the 456-unit Las Olas Walk on Las Olas Boulevard in Downtown Fort Lauderdale. The Miami tower was built in 2018, while the Fort Lauderdale project did just completed this year.

Cushman & Wakefield began marketing the two buildings this week. 

Cushman & Wakefield Vice Chairman Robert Given stated that South Florida’s population increase and reflecting labor market is pushing values of multifamily assets. 

Apartment projects have traded quickly in recent periods to clients from New York, Chicago, Boston, and Los Angeles, and U.S. properties are becoming drawn from international buyers from South Korea, China, Canada, and Israel.

Monthly rents at Solitair range from $1,845 to $6,125, according to Apartments.com. Las Olas Walk’s rents begin at $1,892 and go as high as $5,225. The buildings are more than 95% full. 

Orlando-based ZOM is an aggressive builder of multifamily assets. It has acquired more than 2,000 units in Miami in recent years.

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